Roper Technologies Q3 Profit Beats View; Lifts FY Adj. EPS Outlook

(RTTNews) - Roper Technologies Inc. (ROP) reported that its net earnings for the third quarter ended September 30, 2023 rose to $347.2 million or $3.23 per share from $327.0 million or $3.06 per share in the same quarter last year.

Adjusted earnings per share were $4.32 compared to $3.67 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $4.22 per share. Analysts' estimates typically exclude special items. Net revenues for the third quarter grew to $1.56 billion from $1.35 billion in the prior year. Analysts expected revenue of $1.55 billion for the quarter.

For the fourth quarter of 2023, the company expects adjusted earnings per share to be in the range of $4.28 - $4.32. Analysts project fourth-quarter earnings of $4.28 per share.

Roper now expects full year 2023 adjusted earnings per share to be in the range of $16.62 - $16.66, compared to previous guidance of $16.36 - $16.50. Analysts expect annual earnings of $16.52 per share.

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